Patriot Financial Group Insurance Agency LLC Decreases Stock Position in Webster Financial Co. (NYSE:WBS)

Patriot Financial Group Insurance Agency LLC decreased its position in shares of Webster Financial Co. (NYSE:WBS) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,168 shares of the financial services provider’s stock after selling 172 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Webster Financial were worth $1,114,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Webster Financial in the third quarter valued at $27,000. UMB Bank n.a. raised its holdings in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 460 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $53,000. NBC Securities Inc. grew its holdings in shares of Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 686 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.5 %

Shares of NYSE WBS opened at $59.44 on Wednesday. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.06 and a beta of 1.30. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $58.02 and its 200 day moving average is $51.84. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, equities research analysts expect that Webster Financial Co. will post 5.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group began coverage on Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price on the stock. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Royal Bank of Canada increased their price objective on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. dropped their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.08.

Insiders Place Their Bets

In related news, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at approximately $12,988,760.92. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,287 shares of company stock worth $1,485,050. 0.88% of the stock is currently owned by company insiders.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.